Wetherby Asset Management Inc. purchased a new position in Best Buy Co Inc (NYSE:BBY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,892 shares of the technology retailer’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Best Buy by 232.8% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after purchasing an additional 1,420 shares during the period. Fieldpoint Private Securities LLC acquired a new position in shares of Best Buy during the 3rd quarter valued at $139,000. Squar Milner Financial Services LLC acquired a new position in shares of Best Buy during the 4th quarter valued at $201,000. Harbour Capital Advisors LLC acquired a new position in shares of Best Buy during the 4th quarter valued at $205,000. Finally, Smithfield Trust Co. acquired a new position in shares of Best Buy during the 3rd quarter valued at $178,000. Hedge funds and other institutional investors own 85.73% of the company’s stock.

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Shares of Best Buy Co Inc (BBY) traded down $0.91 during trading on Thursday, hitting $68.99. 3,790,000 shares of the stock were exchanged, compared to its average volume of 4,190,000. Best Buy Co Inc has a 52-week low of $43.72 and a 52-week high of $78.59. The stock has a market capitalization of $20,170.00, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 1.26.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, March 1st. The technology retailer reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.37. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The firm had revenue of $15.36 billion for the quarter, compared to the consensus estimate of $14.52 billion. During the same period in the prior year, the firm posted $1.93 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. equities research analysts expect that Best Buy Co Inc will post 4.97 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be paid a $0.45 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.34. This represents a $1.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, March 21st. Best Buy’s dividend payout ratio (DPR) is currently 32.15%.

In related news, SVP Mathew Watson sold 990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $77.21, for a total value of $76,437.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Richard M. Schulze sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.19, for a total transaction of $4,889,250.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares in the company, valued at $112,941,675. The disclosure for this sale can be found here. Insiders sold 364,791 shares of company stock worth $24,523,873 over the last ninety days. 1.21% of the stock is currently owned by insiders.

A number of research firms recently issued reports on BBY. Telsey Advisory Group downgraded shares of Best Buy from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $62.00 to $81.00 in a research report on Thursday, January 25th. They noted that the move was a valuation call. Barclays boosted their target price on shares of Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. UBS Group restated a “neutral” rating and set a $77.00 price objective (up previously from $70.00) on shares of Best Buy in a report on Friday, March 2nd. Loop Capital upgraded shares of Best Buy to a “buy” rating in a report on Thursday, March 1st. Finally, Morgan Stanley restated an “equal weight” rating and set a $74.00 price objective (up previously from $66.00) on shares of Best Buy in a report on Friday, March 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy has a consensus rating of “Hold” and a consensus price target of $69.42.

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About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.